Sherri is bidding adieu to ‘The View’! It’s been confirmed that the popular co-host and actress is leaving the morning talk show, and there is a new report that cast member Jenny McCarthy and executive producer Bill Geddie are also on the way out.

Sherri Shepherdannounced in a statement on June 26 that she was leavingThe View after co-hosting the ABC ensemble talk show for seven years, our sister site Deadline reports. So why is she moving on, and was she really fired? Here’s what we know.

Some media outlets are reporting that Sherri was fired from the show, and that her fellow co-host Jenny McCarthy is next on the chopping block.

WATCH: Sherri Shepherd & Jenny McCarthy Go Topless On ‘The View’

“There was a meeting at ABC late Thursday [June 26] afternoon and they announced Sherri Shepherd was out,” sources tell TMZ. “We’ve also heard but have not confirmed Jenny McCarthy and executive producer Bill Geddie may be gone too,” the site reports.

It’s unclear who will be replacing Sherri and Jenny but the list of potential new co-hosts includes Ross Mathews and Jesse Palmer, according to TMZ.

A rep for Sherri released the following statement to Deadline on the afternoon of June 26:

It’s been seven wonderful years on The View and after careful consideration it is time for me to move on. I am extremely grateful to Barbara Walters and Bill Gedde for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my View family and my fans for supporting me on this journey.

Sherri’s contract was reportedly up for negotiation, but her camp and ABC were “‘too far apart’ on terms of a new deal,” sources tell the site.

ABC said in a separate statement: “The View will be moving in an exciting new direction next season and ABC has made decisions to evolve the show creatively.”

Sherri Shepherd Opens Up About Divorce ‘Craziness’ For First Time

If Sherri was in fact fired, the timing couldn’t be worse. The star is in the midst of a very painful and public divorce battle with her husband Lamar Sally, and she opened up about her drama for the first time at the Samsung Hope for Children Gala in New York City on June 10.

“Growth is hard and growth is a struggle,” she told E!, “and it hurts and you’ve got to go through that in order to grow or you stay the same. And also, I feel as long as you can get up and look up, you have another chance and another chance to make things right. Again, going through all my craziness, I hope that my character and my integrity speaks for me, so I stand behind that.”

What do you think, HollywoodLifers? Are you sad that Sherri is leaving The View? Who do YOU think should replace her? Let us know!